Arvinas (NASDAQ:ARVN) Downgraded to Strong Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Arvinas from “sell” to “strong sell,” adding to a mixed analyst picture that currently shows a consensus Hold rating and an average price target of $15.42.
• Arvinas shares were trading at $8.01, near the lower end of their 52-week range of $6.05 to $14.51, with a market cap of about $516.8 million and a 200-day moving average of $10.62.
• The company’s latest quarter showed better-than-expected EPS of -$0.90, but revenue of $15.6 million missed estimates and fell 91.7% year over year; meanwhile, both the CEO and CFO recently sold shares tied to tax withholding or a trading plan.

Arvinas (NASDAQ:ARVN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a note issued to investors on Saturday.

Other research analysts have also issued research reports about the company. Weiss Ratings raised Arvinas from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday. Zacks Research raised shares of Arvinas from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 26th. Citigroup upped their price objective on shares of Arvinas from $21.00 to $24.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Stephens reaffirmed an "overweight" rating and issued a $18.00 target price on shares of Arvinas in a report on Wednesday, June 3rd. Finally, Barclays lifted their target price on shares of Arvinas from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Wednesday, May 13th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Arvinas has a consensus rating of "Hold" and an average price target of $15.42.

Arvinas Stock Performance

Shares of ARVN opened at $8.01 on Friday. Arvinas has a fifty-two week low of $6.05 and a fifty-two week high of $14.51. The firm has a 50-day simple moving average of $8.30 and a 200-day simple moving average of $10.62. The company has a market capitalization of $516.81 million, a price-to-earnings ratio of -2.41 and a beta of 1.74.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.95) by $0.05. The firm had revenue of $15.60 million for the quarter, compared to analysts' expectations of $16.61 million. Arvinas had a negative return on equity of 44.38% and a negative net margin of 247.54%.The firm's revenue for the quarter was down 91.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 EPS. Equities research analysts forecast that Arvinas will post -2.82 EPS for the current year.

Insider Activity at Arvinas

In related news, CEO Randy Teel sold 9,657 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $9.94, for a total transaction of $95,990.58. Following the sale, the chief executive officer owned 287,218 shares of the company's stock, valued at approximately $2,854,946.92. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrew Saik sold 5,696 shares of the business's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $8.16, for a total transaction of $46,479.36. Following the sale, the chief financial officer directly owned 187,432 shares in the company, valued at approximately $1,529,445.12. This represents a 2.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 41,728 shares of company stock worth $402,649 over the last 90 days. Company insiders own 7.30% of the company's stock.

Institutional Investors Weigh In On Arvinas

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings in Arvinas by 491.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company's stock worth $43,000 after purchasing an additional 4,835 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Arvinas by 109.4% in the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company's stock valued at $49,000 after purchasing an additional 3,500 shares during the last quarter. Abel Hall LLC purchased a new position in shares of Arvinas in the fourth quarter valued at $125,000. Corient Private Wealth LLC purchased a new position in shares of Arvinas in the fourth quarter valued at $127,000. Finally, Jain Global LLC purchased a new position in shares of Arvinas in the third quarter valued at $95,000. Institutional investors and hedge funds own 95.19% of the company's stock.

About Arvinas

Arvinas, Inc NASDAQ: ARVN is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body's natural protein-recycling systems.

The company's most advanced clinical candidates address hormone-driven cancers.

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